Global Aircraft Refurbishing Market: Future Demand and Growth Analysis

The latest industry research report on Aircraft Refurbishing Market by MRC provides a thorough analysis of the global Aircraft Refurbishing Market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Aircraft Refurbishing industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative analysis of the industry taking into consideration the significant development factors, competition in the market, and important reasons impacting the market growth.

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 Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for VIP cabins. VIP cabins are mostly owned by either corporations or private individuals and represent a challenging yet fruitful market. The range of cabin options is large and depends on the requirement of the owner. The operators have requirements like waterbeds, stationary bikes, custom artwork, and use of special materials like marble or granite.”

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 According to the report, one driver in the market is growing demand for premium economy class. The premium economy concept for some airline operators is an upgrade of the economy class. This mainly involves providing a little extra comfort to passengers for a rather low investment compared with business class. With the growing disposable income, passenger preferences are changing, and passengers are shifting toward comfort luxury travel. As premium economy class bridges the gap between business and economy class, airline operators are considering it as a financial benefit. While some airliners are specifying it for their new aircraft, several others have opted refurbishment of existing aircraft as an option to achieve the same.

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 Further, the report states that one challenge in the market is lack of pre-determined aircraft retirement age. Commercial aircraft refurbishment is largely dependent on the aging of aircraft. Countries like China and Russia retire their aircraft at the age of 15 years, whereas in the Americas, the aircraft retire at around 20 years. The Aircraft Fleet Recycling Association is trying to standardize the retirement age as per the number of years of service and as per the aircraft body type. Aging aircraft suffer from metal corrosion and structural fatigue issues. While corrosion occurs due to chemical action and causes deterioration of the metal surface, fatigue cracks occur due to cyclic loading.

following companies as the key players in the global aircraft refurbishing market: AAR, AMECO, L-3 Communications Aviation Recorders, ST Aerospace, and Aviation Partners Boeing.

Other Prominent Vendors in the market are: Lufthansa Technik, HAECO, Honeywell, Zodiac Aerospace, Rockwell Collins, AMAC Aerospace, and SR Technics.

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